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Open nowPosted 9 days ago

Director of Property Management

HOA Talent

Pay
$120,000 – $130,000 a year
Where
Chicago, IL, United States
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Your applicationOpen nowDirector of Property ManagementHOA Talent · Chicago, IL, United States

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The clock on this job

Early applications get read.

13.8% of postings close within 7 days. Measured by our own scanner across the market.

Share of postings closed within
  1. 2.2%1 day
  2. 4.7%3 days
  3. 13.8%7 days
  4. 22.3%14 days
  5. 37.8%30 days
  6. 59.0%60 days
This job: posted 9 days ago

The posting

About the Role: Lead the property management division, ensuring operational excellence, financial performance, and owner and tenant satisfaction across the portfolio. The Director of Property Management will provide strategic oversight and leadership, driving efficiencies across property management operations and asset managers. Your focus will be threefold:

1) Maximizing Owner Success: This includes retaining current owners, attracting new ones, and encouraging portfolio growth through

exceptional service that anticipates their needs, optimizes the financial performance of their properties, and fosters a seamless ownership experience.

2) Optimizing Asset Value: You'll implement strategies to maximize the overall value of Westward360's property portfolio.

3) Building a High-Performing Team: You'll lead and develop a team that delivers efficient operations, ensuring all efforts contribute to achieving company goals.

Schedule: 50% at the office, 50% at home. There are some required in-office days for in-person meetings. Salary: $120,000 - $130,000

Responsibilities:

Operational Oversight

  • Oversee all aspects of property management operations, owner and tenant relations, leasing, compliance, and financial management of the asset.
  • Ensure properties are maintained to the highest standards, addressing issues promptly to minimize downtime and costs.

Strategic Leadership and Execution of Vision

  • Assist with implementing the strategic vision for the property management division, aligning with the company's objectives and market opportunities.
  • Lead change management initiatives to adapt to market dynamics and drive continuous improvement in operational processes.
  • Establish and implement a system for tracking progress towards the vision and operational goals, ensuring consistent improvement and successful execution of the vision.

Team Leadership and Development

  • Join the collaborative development and take responsibility for implementing strategies, directives, policies, and procedures for the company’s Single-Family Rental (SFR) and Multifamily real estate portfolio.
  • Leads, mentors, and develops a high-performing management team, including property and asset managers, to achieve operational excellence.
  • Manage and oversee recruiting, hiring, retention, training, and development of the property management team members for Multifamily and SFR Divisions, including oversight of the leasing product.
  • Promote a culture of accountability, professional development, and high performance through effective recruitment, training and cross-training, and retention strategies.
  • Create a collaborative team environment where members are encouraged to support each other, ensuring seamless operations and continuity in service delivery when someone is absent.
  • Develop and coordinate operations infrastructure and workflow systems, including SOP, policy and procedures, training programs and manuals, risk management procedures, performance reviews, and talent recognition programs.

Property Maintenance and Operations

  • Coordinate with property managers to ensure all properties are maintained to high standards, promptly addressing repair and maintenance issues, and optimizing cost-effectiveness.
  • Develop and implement strategies to maximize property revenue and minimize vacancy rates. This could include initiatives like preventative maintenance to reduce repair costs and extend asset life, implementing tenant retention programs, and optimizing rental pricing strategies.
  • Maintain high occupancy rates through effective leasing strategies and market positioning. The goal is to improve tenant acquisition and retention by responding to market demands with appropriate practices.
  • Implement strategies to maximize owner and tenant satisfaction and retention, reducing turnover costs and stabilizing rental income, demonstrating a focus on long-term relationships and service excellence.
  • Collaborate with internal maintenance departments and other service teams to enhance company profitability while continuously improving services, focusing on setting industry-leading standards.
  • Leverage cross-functional teamwork to streamline operations and deliver exceptional value to owners and tenants, reinforcing our commitment to becoming industry leaders in property management.

Growth

  • Drive growth by creating raving fans among property owners, ensuring their satisfaction and advocacy for the company.
  • Continuously seek opportunities to expand the company's portfolio and enhance its market presence through strategic initiatives and exceptional service.

Retention (Owners)

  • Maintain open and effective communication with property owners to foster strong relationships and ensure their continued satisfaction with the company's management services.
  • Actively seek opportunities to highlight and share the property management team's success stories and hard work with ownership, demonstrating the value and impact of their investment.

Financial Management and Performance

  • Direct the financial strategy for managed properties, including budgeting, forecasting, and performance analysis to maximize profitability and asset value.
  • Monitor key financial indicators and adjust strategies to meet or exceed financial goals while proactively communicating and showcasing the value and success of our management efforts to property owners
  • Help prepare and manage property budgets, financial reporting, and performance analysis.
  • Assist in monitoring financial performance and identifying areas for improvement.
  • Assess the performance and impact of training initiatives.
  • Assist in analyzing business metrics to assess performance and identify opportunities for improvement.

Compliance and Risk Management

  • Ensure all property management activities comply with local, state, and federal regulations, minimizing legal risks and protecting assets.
  • Implement risk management strategies to mitigate potential losses and liabilities.

Business Metrics

  • Drive initiatives to maximize the profitability of properties by effectively managing rental income and operating expenses, reflecting the ability to enhance operational efficiency and financial health through Net
  • Operating Income (NOI) and Tenant Accounts Receivable (AR).
  • Develop and Manage Operational KPIs for the division.

Requirements

  • Bachelor's degree in Finance, Real Estate, or a related field; advanced degrees or certifications (e.g., CFA, CRE) preferred, or equivalent work experience in a related field
  • Possess and maintain a valid Real Estate license
  • Knowledge of financial modeling, real estate economics, and property valuation.
  • Exceptional leadership skills and proven ability to guide, motivate, and develop a diverse team toward achieving operational excellence and strategic goals.
  • Strong critical thinking abilities, capable of assessing situations, identifying opportunities for improvement, and implementing strategic solutions.
  • Strong analytical and financial skills, combined with effective negotiation and communication capabilities, to make informed decisions and drive successful outcomes.
  • Proficiency in property management software and financial reporting tools, facilitating efficient operations and accurate financial analysis.
  • Ability to manage multiple projects simultaneously, demonstrating exceptional organizational skills and the capacity to prioritize tasks effectively.
  • A thorough understanding of and the ability to comply with laws and statutes relevant to property management, ensuring all operations are conducted within legal parameters.

Benefits

  • Healthcare Insurance
  • Healthy PTO
  • HR incentives
  • & more!
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